May 7, 2005

Charlie munger - Wesco meeting 2005

I was reading the transcipts of the meeting on . There were several comments from munger which really impressed me.

- He referred to a “seamless web of deserved trust” which is necessary to run any large coporation. This is a profound idea. how companies in india work this way ?
- he talked out currency trading being a zero sum game. he would prefer equity where it is not a zero sum game
- he talked about lowering return expectations in the current environment. Annhieser busch could that example. A certain investment with lower return. This is important. Better to be sure of lower returns that optimisitic of fantastic results

Found the Q&A really fantastic.

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